Trevi Therapeutics (NASDAQ:TRVI) Shares Gap Up After Better-Than-Expected Earnings

Trevi Therapeutics, Inc. (NASDAQ:TRVI) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $11.19, but opened at $11.86. Trevi Therapeutics shares last traded at $10.8890, with a volume of 178,855 shares changing hands.

The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04.

Key Headlines Impacting Trevi Therapeutics

Here are the key news stories impacting Trevi Therapeutics this week:

• Positive Sentiment: Needham raised its price target from $22 to $24 and kept a “buy” rating, implying ~114% upside from the recent price — a strong analyst endorsement that can support further upside. Needham Price Target Raise
• Positive Sentiment: D. Boral Capital reaffirmed a “buy” rating and set a $19 price target (~70% upside), providing additional broker support behind the stock. D. Boral Rating Reaffirmed
• Positive Sentiment: Trevi gained FDA alignment to run two pivotal Phase 3 trials for IPF-related chronic cough — a major clinical development milestone that materially de-risks the path to registration and is likely the primary fundamental driver of investor enthusiasm. FDA Alignment for Phase 3 Trials
• Positive Sentiment: Q4 2025 results beat expectations: Trevi reported ($0.06) EPS vs. consensus ($0.10) loss — a small beat that supports management’s execution narrative ahead of the Phase 3 program. Q4 2025 Press Release
• Neutral Sentiment: Earnings call highlights and transcript provide management color on strategy and the Phase 3 design; useful for gauging timelines and cash burn but not immediately market-moving beyond the FDA alignment news. Earnings Call Highlights Earnings Call Transcript
• Neutral Sentiment: Valuation pieces are re-running after the FDA green light; they help frame upside scenarios but depend heavily on trial outcomes and eventual commercialization timing. Valuation After FDA Green Light
• Negative Sentiment: Risk: Trevi remains unprofitable with negative EPS and is years away from potential commercial revenue; trial execution, enrollment, and subsequent regulatory review remain material binary risks for the stock.

Wall Street Analyst Weigh In

TRVI has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research note on Monday, March 9th. Stifel Nicolaus upped their price objective on Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a research note on Monday, March 9th. Needham & Company LLC increased their price objective on shares of Trevi Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Leerink Partners lifted their price target on Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $21.30.

Institutional Trading of Trevi Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TRVI. Russell Investments Group Ltd. lifted its holdings in Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after acquiring an additional 2,996 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Trevi Therapeutics during the fourth quarter worth $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in Trevi Therapeutics in the fourth quarter valued at $50,000. Strs Ohio purchased a new stake in Trevi Therapeutics in the first quarter valued at $52,000. Finally, Catalyst Funds Management Pty Ltd acquired a new position in shares of Trevi Therapeutics in the 2nd quarter valued at $56,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Stock Performance

The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -29.60 and a beta of 0.94. The company has a 50 day moving average price of $11.17 and a 200 day moving average price of $10.93.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.